The main investors were E-merge in Belgium; BDMI (the VC arm of Bertelsmann – the big German publishing group); Edward Wray (Betfair founder); and William Reeve (LOVEFiLM co-founder).

Satago automates credit control, enabling small businesses and freelancers to get paid on time. They simply link their accounting software to Satago, and the platform anonymously reports when they get paid by their clients to all those who share that payments date data. Everything happens automatically.

According to some figures, SMEs in the UK are paid 41 days late on average, creating big cash flow issues. The EU estimates this leads to up to 25% of company bankruptcies.

On the AngelList issue, they got featured and then got lots of top level investor interest, although AngelList is not available as an investment platform in Europe yet.

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CrunchBase

OverviewSatago is credit control and accounts receivable software that improves small business cashflow by getting them paid faster. We connect in to companies' accounting software then automate the process of chasing customers for payment. We have credit data on companies to help educate users about who are good customers, and who should maybe be avoided.